CALGARY, Aug. 30, 2016 (Canada NewsWire via COMTEX) — Twin Butte Energy Ltd. (TBE) (“Twin Butte” or the “Company”) announces that following the results of its meeting of securityholders held on August 29, 2016, whereby (among other things) the debentureholders of Twin Butte did not approve a proposed plan of arrangement in respect of Twin Butte and its securityholders, Twin Butte’s lenders under its senior secured credit facilities issued to the Company a demand letter and notice under section 244 of the Bankruptcy and Insolvency Act (Canada) (the “BIA”) whereby such lenders set forth their intention to enforce their security for repayment of approximately $205.4 million owed under Twin But…
Read the full article at: http://www.marketwatch.com/story/twin-butte-energy-announces-receipt-of-notice-of-intention-to-enforce-security-and-receivership-application-2016-08-30
